The sale of our home will provide us with approximately $150,000 to allocate toward investments.At this stage, we feel most comfortable focusing on long-term rentals.

You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

I've selected Collin, Denton, and Grayson counties as my investment focus.My goals involve investing in multifamily properties and long-term rentals.

For my first investment, I'm looking for a safer investment with a goal to at least break even in 12 months and possibly focus on learning long term cash flow and appreciation.

Also, because you are at risk if the leasee fails to execute properly, you had best have a great lease and the ability to check on their performance. 

If you provide your credit score, purchase price,  estimated down payment, property type, occupancy type and desired term, then most lenders should be able to provide you with their current interest rate, any associated points or lender credits for the rate provided, and their total origination fees.   

A cost segregation study was performed on this single family home in Iowa City, Iowa with a depreciable cost basis of $649,900.

The ADU would be utilized as a short term vacation rental. 

@Brian LuterYour focus on small multifamily and land acquisition is a strong strategy, especially for scaling and long-term value creation.

Quote from @Ben Trageser: If you live in your short-term rental (STR) property in a future year after claiming depreciation, depreciation recapture does not occur immediately.